Are Raffles permissible?

Q. Is this type of raffle permissible? An organization sells a card with four stickers. The purchaser in turn sells the four stickers to four buyers and the money he receives from the sale of the four stickers and the names and addresses of the purchasers he sends to the organizers.

They then send him a watch and to the purchasers a card each with four stickers. The four purchasers in turn sell their stickers. Whoever sells all four of his stickers sends the money he collects and the names of the purchasers to the organizers who send him a watch. In this way, cards with stickers are sent to purchasers and watches are received by those who sell their four stickers.

A. This raffle is baatil from beginning to end. It is impregnated with the haraam factors of riba, qimaar (gambling) and devouring of haraam money.